When I heard about it, he was powering down in order to cash out and leave the platform. He wanted to bring his followers to wherever he was going apparently. A lot of the sketchier things he had done were being talked about and there is speculation that he used the platform to create scams and when he was found out and started receiving a lot of downvotes, he left.
I don't know the full story. And he's still here. He still has SP, just less than before. Maybe he changed his mind mid-way, I don't know. All I know is he was in the process of "leaving" a couple months ago. So maybe it has changed since then. I know he powered down a lot, so it would have affected the price to some extent. His posts aren't making as much as they used to, by a lot.